Bitcoin Price Prediction: A day trader’s delight

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  • Bit­coin price has breached all of July and August liq­uid­i­ty levels.
  • A bull­ish ham­mer is min­utes away from print­ing while the RSI hov­ers back into bull­ish territory.
  • Inval­i­da­tion of the bull­ish counter-trend idea is a breach of the swing low at $18,250.

Bit­coin price could wit­ness an influx of volatil­i­ty in the com­ing days, with the first direc­tion­al bias lean­ing bullish.

Bitcoin price is set to get volatile.

Bit­coin price could be a favor­able mar­ket for intra­day traders for the remain­der of Sep­tem­ber. Over the week­end, the BTC price fell 20%, tag­ging a new low for Sep­tem­ber at $18,250. The decline wiped out all of the pre­vi­ous swing lows estab­lished since July. 

Based on Auc­tion Mar­ket The­o­ry, the liq­uid­i­ty hunt could reset the play­ing field between exchanges, retail traders, and smart mon­ey oper­a­tives. A very volatile mar­ket could sur­face through­out the remain­der of Sep­tem­ber, cre­at­ing high prob­a­bil­i­ty trade setups for day traders to par­take in.

Bit­coin price cur­rent­ly auc­tions at $19,540 as the bulls are 90 min­utes away from print­ing a bull­ish ham­mer on the 2‑day chart. The Rel­a­tive Strength Index has hov­ered back above the bull­ish ter­ri­to­ry, which sug­gests the bulls could reclaim more gains in the com­ing days. Using the ham­mer as a pro­jec­tive tool sug­gests a 10% ral­ly could occur this week towards $21,600. 

TM/BTC.9/19/22

BTC USDT 2‑Day Chart

Inval­i­da­tion of the bull­ish counter-trend idea (tar­get­ing $21,200 and poten­tial­ly $21,600) is a breach of the new­ly estab­lished swing low at $18,250. If the bears breach this lev­el, they could  prompt a fur­ther decline towards the June 18 swing low at $17,580, result­ing in a 10% decline from the cur­rent Bit­coin price.

In the fol­low­ing video, our ana­lysts deep dive into the price action of Bit­coin, ana­lyz­ing key lev­els of inter­est in the mar­ket. ‑FXStreet Team

 

 

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